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BSE: 523670 | NSE: | ISIN: INE740C01019
Market Cap: [Rs.Cr.] 13.81 | Face Value: [Rs.] 10
The Members of
NOIDA MEDICARE CENTRE LIMITED.
1. We have audited the accompanying financial statements of NOIDA MEDICARE CENTRELIMITED , which comprise the Balance Sheet as at March 31, 2013, and the Statement ofProfit and Loss and a summary of significant accounting policies and other explanatoryinformation.
2. Management is responsible for the preparation of these financial statements thatgive a true and fair view of the financial position, financial performance and cash flowsof the Company in accordance with the Accounting Standards referred to in sub-section (3C)of section 211 of the Companies Act, 1956 ("the Act"). This responsibilityincludes the design, implementation and maintenance of internal control relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement, whether due to fraud or error.
3. Our responsibility is to express an opinion on these financial statements based onour audit. We conducted our audit in accordance with the Standards on Auditing issued bythe Institute of Chartered Accountants of India. Those Standards require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.
4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the financial statements. The procedures selected depend on theauditor's judgment, including the assessment of the risks of material misstatement of thefinancial statements, whether due to fraud or error. In making those risk assessments, theauditor considers internal control relevant to the Company's preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement, as well as evaluating the overall presentation of the financial statements.
5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
6. In our opinion and to the best of our information and according to the explanationsgiven to us, the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:
a) in the case of the Balance Sheet, of the state of affairs of the Company as at March31, 2013;
b) in the case of the Profit and Loss Account, of the profit/ loss for the year endedon that date; and
c) in the case of the Cash Flow statement for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2003 issued by the CentralGovernment of India in terms of sub-section (4A) of section 227 of the Act, we give in theAnnexure a statement on the matters specified in paragraphs 4 and 5 of the Order.
2. As required by section 227(3) of the Act, we report that:
a) we have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit;
b) in our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of those books
c) the Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account.
d) in our opinion, the Balance Sheet and Statement of Profit and Loss comply with theAccounting Standards referred to in subsection (3C) of section 211 of the Companies Act,1956;
e) on the basis of written representations received from the directors as on March 31,2013, and taken on record by the Board of Directors, none of the directors is disqualifiedas on March 31, 2013, from being appointed as a director in terms of clause (g) ofsub-section (1) of section 274 of the Companies Act, 1956.
f) Since the Central Government has not issued any notification as to the rate at whichthe cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued anyRules under the said section, prescribing the manner in which such cess is to be paid, nocess is due and payable by the Company.
|For N.K. DUGGAL & CO.|
|Regn. No 004809N|
|Place : New Delhi||(N K DUGGAL)|
|Date : 30.05.2013||Prop|
|Membership No. : 083661|
Annexure to Auditors' Report
Re: NOIDA MEDICARE CENTRE LIMITED
Referred to in paragraph 3 of our report of even date,
(i) (a) The Company is maintaining proper records showing particulars includingquantitative details and situation of fixed assets.
(b) The Fixed Assets of the company have been physically verified by the managementduring the year and no material discrepancies between the book records and the physicalinventory have been noticed. In our opinion, the frequency of verification is reasonable.(c) In our opinion and according to the information and explanations given to us, asubstantial part of fixed assets has not been disposed of by the Company during the year.
(ii) (a) The inventory has been physically verified during the year by the management.In our opinion, the frequency of verification is reasonable.
(b) In our opinion, the procedures of physical verification of inventories followed bythe management are reasonable in relation to the size of the Company and the nature of itsbusiness.
(c) On the basis of our examination of inventory records, in our opinion, the companyis maintaining proper records of inventory. No material discrepancy was noticed onphysical verification of stocks by the management as compared to book records.
(iii) In respect of loans, secured or unsecured, granted or taken by the Companyto/from companies, firm or other parties covered in the register maintained under section301 of the Companies Act, 1956 according to the information and explanations given to us :
a. The Company has not granted any loan to the parties covered in the registermaintained under section 301 of the Companies Act, 1956. Accordingly, the provisions ofclause 4(a-d) of the Companies (Auditors Report) order, 2003 are not applicable to thecompany.
b. The Company has taken unsecured loans of Rs 2,36,99,000/- from parties covered inthe register maintained under section 301 of the Companies Act, 1956, during the year. Inrespect of the said loan, the maximum amount outstanding at any time during the year wasRs.1,25,42,689/- and the year-end balance is Rs. 1,16,57,689/-.
c. In our opinion and according to the informations and explanations given to us, theabove said loans is unsecured loans and other terms and conditions on which loans has beentaken are not prima facie prejudicial to the interest of the Company.
d. The rate of interest and other terms and conditions of unsecured loans taken by theCompany are prima facie not prejudicial to the interest of the Company.
e. In respect of the aforesaid loans, the Company is regular in repaying the principalamounts as stipulated and is also regular in payment of interest.
(iv) In our opinion and according to information and explanations given to us , thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business with regard to purchases of inventory, fixed assets and sale ofgoods. Further, on the basis of our examination of the books and records of the Companyand according to the information and explanations given to us, we have neither come acrossnor have been informed of any major weakness in the aforesaid internal control procedures.
(v) (a) According to the information and explanation give to us, we are of the opinionthat the transactions that need to be entered into the register maintained under section301 of the Companies Act, 1956 have been so entered.
(b) In our opinion and according to the information and explanations given to us, thetransactions made in pursuance of contracts or arrangements entered in the registermaintained under section 301 of the Companies Act, 1956 and exceeding the value of rupeesfive lakhs have been made at the prices which are reasonable with regard to the prevailingmarket prices at relevant times.
(vi) In our opinion and according to the information and explanations given to us, theCompany has not accepted any deposits within the meaning of section 58A, 58AA and otherrelevant provisions of the Companies Act, 1956 and relevant rules framed there under.
(vii) In our opinion, the Company has an internal audit system commensurate with thesize and nature of its business.
(viii) The Central Government of India has not prescribed the maintenance of costrecords under clause (d) of subsection (1) of Section 209 of the Companies Act, 1956.
(ix) (a) The company is regular subject to adjustment of refunds / demands indepositing with appropriate authorities undisputed statutory dues including income tax,sales tax, custom duty, provident fund , Service Tax and other material statutory duesapplicable to it.
(b) According to the information and explanations given to us, no undisputed amountspayable in respect of income tax, wealth tax, sales tax, Service tax, excise duty and cesswere in arrears, as at 31st March 2013 for a period of more than six months from the datethey became payable.
(x) The Company does not have any accumulated losses at the end of the financial yearand has not incurred cash losses during the financial year covered by our audit and in theimmediately preceding financial year.
(xi) Based on our audit, procedures and on the information and explanations given bythe management, we are of the opinion that, the company has not defaulted in repayment ofdues to financial institutions or bank during the year.
(xii) The Company has not granted loans and advances on the basis of security by way ofpledge of shares, debentures and other securities.
(xiii) In our opinion, the company is not a chit fund or a nidhi / mutual benefit fund/ society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor's Report)Order, 2003 are not applicable to the company.
(xiv) In our opinion, the Company is not dealing in or trading in shares, securities,debentures and other investments. Accordingly, the provisions of clause 4(xiv) of theCompanies (Auditor's Report) Order, 2003 are not applicable to the Company.
(xv) In our opinion, and according to the information and explanations given to us, theCompany has not given any guarantee for loans taken by others from Banks or FinancialInstitutions during the year.
(xvi) In our opinion, the term loans have been applied for the purposes for which theywere raised.
(xvii) According to the information and explanations given to us and on an overallexamination of the balance sheet of the company, we report that no funds raised on shortterm basis have been used for long term investment by the company.
(xviii) The Company has not made any preferential allotment of shares to parties andcompanies covered in the register maintained under section 301 of the Act during the year.
(xix) The Company has not issued any debentures during the year.
(xx) The Company has not raised any money by public issues during the year.
(xxi) According to the information and explanations given to us, no fraud on or by theCompany, which is material in amount and nature has been noticed or reported by themanagement during the course of our audit.
|For N.K. DUGGAL & CO.|
|Regn. No 004809N|
|Place : New Delhi||(N K DUGGAL)|
|Date : 30.05.2013||Prop|
|Membership No. : 083661|
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Ravi Mathur , Director
Naveen Chaudhri , Chairman & Managing Director
Vikram Prakash , Director
R K Gupta , Company Secretary
Company Head Office / Quarters:
F-65 1st Floor,Okhla Industrial Are,Phase-I,New Delhi-110020
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